Why is that market economies can often allocate resources in a more efficient and robust way than centrally planned economies?

Firms operating in industries where economies of scale are common will likely see ________ levels of labor productivity from the

kiruha [24]

Answer:

The correct word for the blank space is: higher.

Explanation:

Economies of Scale is a key concept for any business in any industry. It is also important for consumers trying to understand why smaller businesses may have to charge more for similar products made by larger companies. Overall, economies of scale mean <em>that production becomes more efficient as the number of goods being produced increases</em>.

6 0

3 years ago

Harry loves both hot dogs and hamburgers. He receives about the same satisfaction from eating one hamburger as he does from eati

Alexeev081 [22]

Answer:

Harry loves both hot dogs and hamburgers. He receives about the same satisfaction from eating one hamburger as he does from eating one hot dog, and the two goods fill the same need in Harry's life. The price of hot dogs has been extremely volatile for the past several years, and this year is no exception Hot dog prices decreased tremendously this month Assuming hot dogs and hamburgers are substitutes for Harry, what is the effect on Harry's demand for hamburgers due to the decrease in the price of hot dogs?

There will be a movement down along his demand curve

Explanation:

Reason behind the decrease in demand curve for hamburger would be as a result of decrease in the price of hot dog which would increase the demand since they could be substituted for each other because of their benefits; hence, the demand curve for hamburger would be decreased or mov e down

0 0

3 years ago

If the structural budget deficit is $100 billion and the actual deficit is $300 billion, what is the size of the cyclical defici

IceJOKER [234]

Cyclical deficit is the downfall of the business cycle, this usually occurs when the economy is beneath potential income. The formula for this is, CD= tax rate x ( potential deficit - actual deficit). Therefore, the cyclical deficit is $200. I hope this helps.

7 0

3 years ago

A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price.

Yuki888 [10]

A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price. The approximate relationship between price and demand is 50 units.

p = 38 + (2,700 / D) - (5,000 / D2)

Marginal (variable) cost (MC) = 40

(a) Profit is maximized by equality of Marginal revenue (MR) and MC.

Total revenue (TR) = p x D = 38D + 2,700 - (5,000 / D)

MR = dTR / dD = 38 + (5,000 / D2)

Equating MR with MC,

38 + (5,000 / D2) = 40

5,000 / D2 = 2

D2 = 2,500

Taking positive square root on each side,

D = 50

(b) When D = 50, from demand function we get

p = 38 + (2,700 / 50) - (5,000 / 2,500) = 38 + 54 - 2 = $90 (Profit-maximizing price)

Profit (\pi) ($) = Total Revenue - Total Costs = TR - (Fixed cost + Total variable cost) = (p x D) - (1,000 + 40D)

= 38D + 2,700 - (5,000 / D) - 1,000 - 40D

= 1,700 - 2D - (5,000 / D)

Profit is maximized when d\pi/dD = 0 and d2\pi/dD2 < 0.

First order condition: d\pi/dD = - 2 + (5,000 / D2)

Second order condition: d2\pi/dD2 = d/dD(d\pi/dD) = - 2 x (5,000 / D3) = - 10,000 / D3

Since D > 0, (- 10,000 / D3) < 0, which proves that profit is maximized when company produces = 50 units.

Learn more about the company products at

brainly.com/question/19649017

#SPJ4

8 0

2 years ago

During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Pur

lilavasa [31]

Answer:

June 3 Purchased goods for $7,900 from Diamond Inc. with terms 2/10, n/30.

Merchandise $7,900 Debit

Accounts Payable $7,900 Credit

5 Returned goods costing $3,000 to Diamond Inc. for credit on account.

Accounts Payable $3,000 Debit

Merchandise $3,000 Credit

6 Purchased goods from Club Corp. for $1,950 with terms 2/10, n/30.

Merchandise $1,950 Debit

Accounts Payable $1,950 Credit

11 Paid the balance owed to Diamond Inc.

Accounts Payable $4,900 Debit

Merchandise $98 Credit

Cash $4,802 Credit

22 Paid Club Corp. in full.

Accounts Payable $1.950 Debit

Cash $1.950 Credit

Explanation:

First recorded the journal entry of the purchased merchandise.

June 3 Purchased goods for $7,900 from Diamond Inc. with terms 2/10, n/30.

Merchandise $7,900 Debit

Accounts Payable $7,900 Credit

When merchandise is returned, we make the opposite entry

5 Returned goods costing $3,000 to Diamond Inc. for credit on account.

Accounts Payable $3,000 Debit

Merchandise $3,000 Credit

It's recorded again the journal entry of the purchased merchandise.

6 Purchased goods from Club Corp. for $1,950 with terms 2/10, n/30.

Merchandise $1,950 Debit

Accounts Payable $1,950 Credit

When the balance is paid it's necessary to register de discount availabe becuase the payment was within 10 days, 2/10.

11 Paid the balance owed to Diamond Inc.

Accounts Payable $4,900 Debit

Merchandise $98 Credit

Cash $4,802 Credit

In the case of Club Corp the paid is in full because it's out of the discount period.

22 Paid Club Corp. in full.

Accounts Payable $1.950 Debit

Cash $1.950 Credit

7 0

3 years ago